The Company generated net sales of $404.0 million for the three months ended July 2, 2016, compared to $413.4 million for the same period last year, a decline of 2.3%. The Company generated net sales of $836.8 million for the six months ended July 2, 2016, compared to $843.0 million for the same period last year, a decline of 0.7%. The decline in net sales was primarily driven by lower sales volumes in our envelope segment, resulting from lower demand in our office products and generic transactional envelope products, and lower sales in our label segment due to our decision to exit our coating operation and certain lower margin label product sets. Operating income was $21.6 million for the three months ended July 2, 2016, compared to operating income of $21.7 million for the same period last year, a decline of 0.4%. Operating income was $38.6 million for the six months ended July 2, 2016, compared to operating income of $39.5 million for the same period last year, a decline of 2.2%. The declines were primarily due to restructuring charges related to our plan to exit our coating operation and the write down of an investment in our label segment, which were meaningfully offset by our improved operating performance and margin within our direct mail envelope business.
Nashua’s namesake company, Nashua Corp., owned by graphics giant Cenveo, will shutter its Merrimack location by April 30 of next year, resulting in 53 layoffs and marking the end of a manufacturing legacy in New Hampshire that goes back more than a century.
The company notified the state and the town by letter on Oct. 26 that the Merrimack packing facility at 59A Daniel Webster Highway is ramping down and will be permanently closed by next spring.
The letter, filed in compliance with the Worker Adjustment and Retraining Notification Act (WARN), lists 20 non-union and 33 union positions that will be affected by the plant closure, ranging from process engineers to janitors and pipefitters.
Founded in 1849 as the Nashua Card and Glazed Paper Co., and incorporated as Nashua Corp. in 1904, the company had five factories in different states as recently as 2010. Nashua Corp. was purchased in 2009 by Cenveo, in a $44 million cash and stock deal. Soon after that purchase, Cenveo closed the Nashua Corp. plant in Omaha, Neb.
more at: http://www.unionleader.com/End-of-era-for-Nashua-Corp-Merrimack-location-to-close&source=RSS#sthash.UKejy8Qe.dpuf